Live Nation Entertainment, Inc. (LYV) Expected to Announce Quarterly Sales of $2.04 Billion

Analysts predict that Live Nation Entertainment, Inc. (NYSE:LYV) will report sales of $2.04 billion for the current fiscal quarter, Zacks reports. Eleven analysts have made estimates for Live Nation Entertainment’s earnings, with the lowest sales estimate coming in at $1.89 billion and the highest estimate coming in at $2.27 billion. Live Nation Entertainment reported sales of $1.80 billion in the same quarter last year, which indicates a positive year over year growth rate of 13.3%. The company is expected to announce its next quarterly earnings report on Thursday, February 22nd.

On average, analysts expect that Live Nation Entertainment will report full-year sales of $2.04 billion for the current year, with estimates ranging from $9.54 billion to $10.08 billion. For the next financial year, analysts expect that the firm will report sales of $10.58 billion per share, with estimates ranging from $10.06 billion to $11.32 billion. Zacks’ sales calculations are an average based on a survey of analysts that cover Live Nation Entertainment.

Live Nation Entertainment (NYSE:LYV) last posted its quarterly earnings results on Thursday, November 2nd. The company reported $0.53 EPS for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.02). Live Nation Entertainment had a return on equity of 3.33% and a net margin of 0.50%. The business had revenue of $3.56 billion for the quarter, compared to analyst estimates of $3.36 billion. During the same period last year, the firm posted $0.49 EPS. Live Nation Entertainment’s quarterly revenue was up 12.3% on a year-over-year basis.

A number of brokerages have issued reports on LYV. Macquarie reaffirmed a “buy” rating and issued a $48.00 target price on shares of Live Nation Entertainment in a report on Sunday, November 5th. Zacks Investment Research raised Live Nation Entertainment from a “hold” rating to a “buy” rating and set a $48.00 target price for the company in a report on Tuesday, October 24th. Jefferies Group reaffirmed a “buy” rating and issued a $42.00 target price on shares of Live Nation Entertainment in a report on Monday, October 16th. Finally, J P Morgan Chase & Co reaffirmed a “buy” rating on shares of Live Nation Entertainment in a report on Wednesday, October 18th. Four analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $42.86.

Live Nation Entertainment (LYV) opened at $42.63 on Friday. Live Nation Entertainment has a fifty-two week low of $26.41 and a fifty-two week high of $46.99. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 1.39. The company has a market capitalization of $8,815.88, a price-to-earnings ratio of 2,131.50 and a beta of 1.05.

In other Live Nation Entertainment news, CEO Michael Rapino sold 70,000 shares of the company’s stock in a transaction dated Wednesday, December 6th. The stock was sold at an average price of $42.87, for a total value of $3,000,900.00. Following the sale, the chief executive officer now owns 115,277 shares in the company, valued at approximately $4,941,924.99. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Michael Rowles sold 46,511 shares of the company’s stock in a transaction dated Monday, November 6th. The shares were sold at an average price of $43.35, for a total value of $2,016,251.85. Following the completion of the sale, the executive vice president now owns 192,054 shares in the company, valued at approximately $8,325,540.90. The disclosure for this sale can be found here. Insiders sold a total of 1,106,511 shares of company stock worth $49,467,752 in the last quarter. Corporate insiders own 4.77% of the company’s stock.

Several institutional investors have recently made changes to their positions in LYV. Russell Investments Group Ltd. boosted its position in shares of Live Nation Entertainment by 23.5% during the 2nd quarter. Russell Investments Group Ltd. now owns 105,071 shares of the company’s stock valued at $3,662,000 after purchasing an additional 20,007 shares in the last quarter. Great West Life Assurance Co. Can boosted its position in shares of Live Nation Entertainment by 2.1% during the 2nd quarter. Great West Life Assurance Co. Can now owns 80,549 shares of the company’s stock valued at $2,806,000 after purchasing an additional 1,660 shares in the last quarter. Canada Pension Plan Investment Board boosted its holdings in Live Nation Entertainment by 42.2% in the second quarter. Canada Pension Plan Investment Board now owns 71,100 shares of the company’s stock worth $2,478,000 after acquiring an additional 21,100 shares in the last quarter. Schwab Charles Investment Management Inc. boosted its holdings in Live Nation Entertainment by 24.6% in the second quarter. Schwab Charles Investment Management Inc. now owns 1,457,085 shares of the company’s stock worth $50,780,000 after acquiring an additional 287,319 shares in the last quarter. Finally, Arizona State Retirement System boosted its holdings in Live Nation Entertainment by 2.4% in the second quarter. Arizona State Retirement System now owns 56,300 shares of the company’s stock worth $1,962,000 after acquiring an additional 1,300 shares in the last quarter. Institutional investors own 68.09% of the company’s stock.

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Live Nation Entertainment Company Profile

Live Nation Entertainment, Inc is a live entertainment company. The Company’s businesses consist of the promotion of live events, including ticketing, sponsorship and advertising. Its segments include Concerts, Sponsorship & Advertising, Ticketing and Artist Nation. The Concerts segment is engaged in promotion of live music events in its owned or operated venues and in rented third-party venues; operation and management of music venues; production of music festivals, and creation of associated content.

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Earnings History and Estimates for Live Nation Entertainment (NYSE:LYV)

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